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CNBC
Aug 6, 2013 7:00pm EDT
his new "washington post." another week, another so-called major speech from president obama. he says he's ending fannie mae and freddie mac. but i see at least one if not two new government insurance plans. is anything really changing here besides rhetoric? and as the time warner/cbs blackout continues here's the big question. will this speed up the demise of the cable tv model? more and more americans are looking into cutting that cord. all those stories and much more coming up in "the kudlow report," beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." first up tonight, a major shake-up at two of the country's most influential newspapers. after four generations of family ownership the "washington post" is selling to amazon ceo jeff bezos. this coming on the heels of the "new york times" fire sale of the "boston globe," unloading the paper to red sox owner john henry for seven cents on the dollar. so what do the "washington post," "the new york times," "the boston globe," and let's add the "l.a. times" and the "chicago tribune," what do the
CNBC
Aug 11, 2013 7:30pm EDT
veteran of the washington post. good to see you. >> good to see you. how's it going? >> good. why do you think jeff bezos was interested in "the post" especially since he acquired it rather than amazon buying it. >> i think it would be difficult for the company to buy it. they're doing so many different experiments that are costly. jeff is someone who's putting off profits for a lot of growth. i think that would have pushed investors over the edge if the company itself bought it. >> that makes sense. do you think with his ecommerce experience he can reinvent the newspaper the way he reinvented publishing? >> i'm not so sure. i don't think they'll sell kindless from the washington post. i think he has ideas about circulation and distributing the paper that he knows about very well. >> what's interesting to me is five or six years ago rupert mourdock acquired "the wall street journal" for $5 billion and here we are five years later, bezos is paying $250 million for the washington post. that's a real fire sale. >> yeah, or else rupert mourdock paid too much. what's happened in the last five
CNBC
Aug 5, 2013 7:00pm EDT
was before 9/11. after the bell stunner, jeff bezos buys "the washington post" for $250 bucks. and the bankrupt city of detroit starts the process of putting its priceless museum artwork up for auction. you wouldn't believe how much it could be worth. all those stories and much more coming up on the "kudlow report" right now. good evening, i'm larry kudlow. this is the "kudlow report." first up tonight, breaking news, jeff bezos paying $250 million for "the washington post" newspaper. a few days ago boston red sox owner john henry bought the "boston globe" for the bargain basement price of only $70 million. what is going on here? why will these foes succeed while others have failed. joining us is our own julia boorstin. why will they succeed where others have failed in. >> i think the question is how do you define success? one thing jeff bezos makes very clear in his letter about this and it was also in the press release is that he's not investing this just as a financial endeavor but he sees this as supporting journalism. he says "i understand the critical role the post plays in washi
CNBC
Aug 6, 2013 4:00am EDT
11:20. and amazon founder jeff bezos agreed to buy "the washington post," the paper battles falling circulation. what does this mean for the business of media? more analysis with bertha coombs from the states. and also, we take the pulse of the solar industry with edward guinness, ceo of guinness alternative energy fund. got any thoughts or comments, please e-mail us, worldwide@cnbc.com. we kick off in the corporate sector. a bit of a sell-off for want of a spin-off. sony shares dropping more than 5% after the japanese firm rejected investor dan loeb's plan to spin off part of its entertainment arm. some losses after the hedge fund said it would keep talking with sony to find more shareholder value. in a letter to third point, the ceo defended keeping full control of the entertainment unit, saying it helped to drive synergies. sony agreed to sharpen its earnings picture when it comes to disclosing movie and music revenues. you said they wouldn't really bend to dan loeb's influence. where does this leave him now? >> well, i think the fact of the matter is that if there is more recogn
CNBC
Aug 4, 2013 7:30pm EDT
. president obama goes on a cross country tour to bring up support for his economic plan. can washington come to an agreement other a big, new deal? and looking for a genius. the parents of amazon.com's jeff basos. >> this is america's number one financial news program "on the money." >> here is a look at what is making news. a disappointing job's report for the month of july. the economy created 162,000 new jobbing for the month. that was below the expected 183,000. but it fell to 7.4% as fewer people looked for jobs. job growth was revised downward was well. record setting weekend for the marks. kicking off the month of august with a bank hitting new highs on thursday after comments by the fed earlier in the weekend. the s&p 500 closed above 1700 for the first time ever. those commenting after the open market committee wrapped up a two-day meeting and announced it would continue buying bonds and mortgage backed securities to help keep interest rates low. the fed used the afraid modest growth rather than moderate growth. that was a light and subttle downgrade. the first reading was rele
CNBC
Aug 28, 2013 3:00pm EDT
all know today a special day in washington. we've been watching the events there is your troun there surrounding the 50th anniversary of martin luther king i have a dream speech. we will be momentarily hearing a pealing of bills to mark that moment. after that president obama will be speaking to commemorate that moment. let's bring in john harwood in washington who has been following the day's moments. a poignant moment coming up with the nation's first african-american president. >> no question. we heard from bernice king, the daughter of martin luther king. she was born precisely five months before he delivered that speech. and it was a speech that has stood the test of time as one of the great pieces of rhetoric in american history. >> one of the measures we take now is how much progress has been made since the speech was made 50 years ago in terms of civil rights, job equality and so forth. >> in terms of political progress it's been substantial. we got an african-american in the white house. we have black americans in the last two presidential elections that actually voted at hi
CNBC
Aug 30, 2013 7:00pm EDT
another conflict in washington gearing up. the fight over debt ceiling, government shutdown, sequester, taxes all that continues. meetings between the gang offing eight and white house negotiators broke down. all that and more coming up on "the kudlow report" beginning right now. >>> good evening, everyone i'm larry kudlow. this is the cut low report. you heard my interpretation of today's speeches. john kerry talked tough in a stroke and brilliant speech. president obama on the other hand seemed to walk it back. let's go cnbc john harwood. he's live in washington for us this evening. first of all, thank you, john and second of all, good evening. what can you tell us? >> reporter: i don't think president obama was walking back those remarks from john kerry. they had different missions. we saw an acceleration of a momentum for a military strike on syria. john kerry came out saying the u.s. had evidence that syria had weapons to kill 1400 people. president obama tried reassure the american people that any u.s. response would not be open ended like the war in iraq. >> without considering
CNBC
Aug 5, 2013 4:00pm EDT
now. we have breaking news. i apologize. it's regarding the "washington post." and mary thompson has that very interesting story. mary? >> really interesting. jeff bezos, the founder of amazon.com, will be buying the newspaper publishing businesses of the "washington post" for $250 million. now, bezos is buying this with an entity that is his alone. this does not have anything to do with amazon.com. so it's basically a personal acquisition. the transition -- the transaction covers the "washington post," the newspaper, and other publishing businesses, including the express newspaper, the gazette newspapers, southern maryland newspapers, fairfax county times, greater washington publishing. what it doesn't include is slate magazine, the root.com and foreign policy. they're not part of the transaction, and will remain with the "washington post" company, as will wapo labs and social code businesses. once again, jeff bezos is paying $250 million for the newspaper publishing businesses of the "washington post." he has asked katherine wamuth, the ceo and publisher of the "washington post
CNBC
Aug 15, 2013 1:00pm EDT
while up today way off the highs, however. diana joins us from washington to sort it all out. hi, diana. >> hey, tyler. you're right, it does seem like a disconnect. first to the sentiment numbers, homebuilder sentiment index, up three points for august. that's the fourth straight month of gains despite rising interest rates. of the three index components, current sales up 3 points. future sales expectations up one point. only buyer traffic seems to be lagging here unchanged and still in the negative territory. this, as we heard, the homebuilder stocks up today but well off their highs. you can see the housing index is now in bare market territory over 20% from its high on may 20. d.r. horton is now at a one-year low. why the disconnect? they are rated much more to the private buildings. they're seeing big demand because of lack of existing supply and demand on the market. they say interest rates are not hitting them that high. of course, it's a huge run-up in the stocks before a recovery really took hold. some said they were, in fact, overheated before then, and now that you hav
CNBC
Aug 5, 2013 12:00pm EDT
years after the downgrade what lessons has washington learned since then? have they learned any lessons at all? [ male announcer ] come to the lexus golden opportunity sales event and choose from one of five lexus hybrids that's right for you, including the lexus es and ct hybrids. ♪ this is the pursuit of perfection. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ time to have new experiences with a familiar keyboard. to update our status without opening an app. to have all our messages in one place. to browse... and share... faster than ever. ♪ it's time to do everything better than before. the new blackberry q10. it's time. the new blackberry q10. a quarter million tweeters is beare tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% les
CNBC
Aug 16, 2013 7:00pm EDT
decision right as washington is dealing with the fiscal standoff that we got coming on and that could provide an added wrinkle because larry summers, without doubt will be confirmed if nominated by the president but might be more difficult and more static than janet yellen and the president has to figure out how much political capital he wants to invest in that. >> indeed. john harwood, good job. thank you. >>> we do have a confluence of events coming this fall, ron not only choosing the new fed chair but the debt ceiling is still to be dealt with, the budget. obama care will have to be coming up in many areas. a lot of things to be dealt with all at the same time that will have a meaningful impact. >> the fed stuff is central. larry summers has voiced to a certain extent and this came back his distaste to quantitative easing. look, if i had to do it, i have a dream speech about the fed right now, ben bernanke staying for a third term. larry summers is known to be a bull in the china shop. there's a much different process in the fed than there might be in treasury, other offices in wa
CNBC
Aug 5, 2013 3:00pm EDT
, stand & poors downgraded the credit rating. more from eamon in washington. eamon? >> reporter: hi, kelly. the markets are up a ton since then. but congress this week anyway is out on vacation. it's august here in washington, and that means the members of congress ski dadled at the end of the session last week. they're going home to their districts. they're going out to campaign. they're going out to raise money, on vacation. what they're not doing in washington is dealing with the next fiscal crisis that could be looming right around the corner. remember, at the end of the fiscal year comes in september, they're coming back in session september 9th. but at the end of the month, they're going to have to come up with something to do with the federal budget, possibly a continuing resolution that could be contentious. and after that, later in the fall, the debt ceiling fight. we'll have that all over again. even though the deficit itself has been going down, because remember, earlier this year, we did raise taxes and lower spending through sequester. it was -- they sort of backed into
CNBC
Aug 27, 2013 6:00am EDT
you at 7:30 a.m. eastern time. >>> in other washington news, the white house preparing to release intelligence evidence alleging the use of chemical weapons by syria. secretary of state john kerry called last week's attack a "moral obscenity," and he's laid out the case for a u.s. military response. >> anyone who could claim that an attack of this staggering scale could be contrived or fabricated needs to check their conscience and their own moral compass. what is before us today is real, and it is compelling. so, i also want to underscore that while investigators are gathering additional evidence on the ground, our understanding of what has already happened in syria is grounded in facts, informed by conscience and guided by common sense. >> uncertainty about the possible military action against the syrian government is helping lift oil prices near a five-month high. and also, some new numbers on the massive california rim wildfire that continues to burn out of control. crews now have 20% of the fire contained. that's the good news. but it's still fanning out across the mountains
CNBC
Aug 19, 2013 7:00pm EDT
washington people talk about austerity. what you really need to do, i believe, in our states and in our nation's government is reform. we made things work better. we didn't just cut things. if you cut things, then things that we genuinely need to have happen get cut just as much as things that don't. we reform things, we put things back in the hands of the taxpayers. let me give you a good example. not just the state level but before under collective bargaining most of our school districts had to buy their health insurance from just one company. today because of reforms they can bid that out and that's saving them tens of millions of dollars. that's money that goes right back in the classroom. that's real reform that isn't just about cutting spending, it's about making the government work better. >> just basically a couple other points on this. you are not participating in what may or may not be obama care. i don't know if the thing's going to die of its own weight or not. you're not buying into the medicaid expansion. you're not buying into the insurance exchanges. >> don't have a stat
CNBC
Aug 29, 2013 11:00pm EDT
. you get the big september shutdown in washington. you shut down the stock market with it. probably another 5% decline. one man made scenario, we go to all time highs. another man-made scenario, the bullish current has common sense behind it, typically, it can produce more jobs. the bears has little support of the economically deaf politicians in washington. to make matters worse, the fed has burned down the gauntlet. so if the war and the government burned down, ben bernanke is take, himself out of the risk. interest rates can spiral higher. what do you do in that environment? that's easy. i think it's a recipe to stay on the sideline, these macro forces would move us around. i'd rather stay in the bay, not take my chances. we are facing man-made events. the men making them and women do not care about the economic impact of their decisions. they simply don't take them into account. they don't take your job into account. neither party in that environment. but that, well, in that environment, that needs to stay planted firmly on your shoulder until either stocks come down or we get a
CNBC
Aug 26, 2013 7:00pm EDT
lower and gold higher. we'll have the latest on this developing story from damascus to washington to weight. >>> another developing story, the debt ceiling battle is heating up. treasury secretary jack lew has sent a letter to boehner, warning twha the debt limit will be r50e67d in october. how will the gop respond? and don't forget about the economy. more evidence out today there will be no second-half economic rebound. does that push the fed taper way back? might your mortgage rates be coming back down? all those stories and more coming up on "the kudlow report", beginning right now. >>> this is "the kudlow report." first up, the u.s. getting closer and closer to military intervention. secretary of state john kerry left little room for doubt. nbc news's steve handelsman has the details. >> good evening, larry. keep in mind the united nations investigation is not complete. this is the unilateral conclusion of the obama administration, presented dramatically today by a man not usually given to public shows of emotion, u.s. secretary of state john kerry stating it is america's conclus
CNBC
Aug 28, 2013 11:00pm EDT
there's too much turmoil in washington. many of the consumer packaged goods stocks only yielded 3% and change. got more on them later. too early, utilities, no thank you. housing gone from amazing to plain bad. again, adding up so quickly we have to wait until the fourth quarter to see if people don't mind the new interest rate sticker shock. i don't have a lot of stocks that are down enough. and i'm not call a bottom. here is the bottom line. the circle back will be in effect tomorrow. look for companies that reported terrific quarters recently and be ready to start nibbling when the smoke clears, that way you'll have the conviction to buy more if it turns out the situation is worse than first thought. am i doing this for my charitable trust? today when the market was down, we committed some, some of the trust's cash. but only in stocks that had fallen so hard that the purchases helped our cost basis or what we paid for the sell-off. that's my way, my discipline. we left plenty of room for more. plenty of room. if things go awry, and we know in the middle east that very few thing frs
CNBC
Aug 6, 2013 2:00pm EDT
street. down almost 100 points on the dow. the s&p down 10 and the dow down 100. "washington post," nation star mortgage and disney are some of the big dow winners ahead of the bell. ty? >> that will do it, everybody, for "power lunch." >> "street signs" begins now. >>> well, it is a retail wreck of a tuesday. nearly every retailer sinking. two names up that i can see. a retail deep dive for you ahead. jeff bezos buys a paper but what should amazon.com buy? our all stars have some interesting ideas. tweet us what should amazon buy @streetsignscnbc and gm makes a surprise move on its chevy volt and al roker's big boo-boo and maybe the most offensive shirt for anybody who has a daughter. >> we have seen the biggest losses of the stock since june the 24th and even though it's very early in the week, only tuesday after all, the rough start so far is putting the dow's six-week winning streak in danger. let's get out to the trading floors and find our friend bob pins and then seema mody. yesterday had the dubious honor of being the lowest volume day of the year. what would you say today
CNBC
Aug 20, 2013 4:00pm EDT
september the 9th, and this is important, because washington is the financial capital of the world. when they come back in september, they're going to have nine days until -- nine working days until they have to deal with the continuing resolution for funding the government's expiration. that, i think, will be very important. it will add to the noise. the weak economic data. and i think the fed will not begin tapering, which would probably be good for stocks, in september. >> yeah. mike queen, terry duffy said something interesting, when we do get the news of the new fed chairman, we probably could see a sell-off in stocks as rates go higher. and obviously, some real activity around rates. do you think we see a stock market sell-off as rates move higher? >> i think it's not unreasonable to think the stock market's going to have a rough several weeks ahead of it with the fed chair uncertainty and the budget battle. but we spend most of our time working with affluent individual investors, and they really -- they're not focused on the when of interest rates going up. they know it's inev ait
CNBC
Aug 13, 2013 2:00pm EDT
? >> well, this totally surprised me, and there's not a lot over outside the washington area between these two carriers. if the other big mergers were approved, this one certainly should have sailed through. the only way they are going to be fully competitive with the two bigger carriers, and it sounds like to me from what the doj said is they don't want the merger to happen, not a lot that u.s. airways and american can do to make it advantageous for them. a couple of competitive routes and overall it would have improved things for the consumer and certainly for the industry. now, this happening here, they are going to have to add to capacity and be more competitive which will maybe affect pricing for the whole industry and have the negative effect on all airline stock prices. >> very interesting. phil, i would also really like to know what happens to the reorganization plan for amr which has been in bankruptcy since 2011. where does that go from here? >> that's put on hold. the creditors will vote on that on thursday and that essentially was contingent upon this merger going through. that
CNBC
Aug 6, 2013 3:00pm EDT
to discuss anything at all. and we'll end on the washington post rising in today's trade, as bezos agrees to buy the publishing assets for $250 million. bill, back to you. >> that's amazing. thank you, josh. bob, i remember the days, when we would say, what would barry do next, barry diller? now we'll have to be asking, what's jeff going to do next, right? >> yeah, i think the big thing here is it's just amazing how the media landscape has been changing. the "washington post" story, for example, just came completely out of nowhere. nobody even knew he'd be interested in buying something like that. and i think the price was a little bit shocking. particularly coming on what the boston story -- what the -- what was going on with boston and the price they paid there. i'm blanking on the cost of what happened up in boston. two big newspapers sold at rather shockingly low prices in the last week or so. >> yeah, they sold it to john henry for $70 million. >> reporter: thank you. >> "the new york times" paid $1.1 billion for that not too long ago, and they're selling it for $70 million. s
CNBC
Aug 12, 2013 6:00am EDT
talking about jeff bezos and his deal to buy "the washington post." a column today says that the amazon founder's expertise in harnessing customer feedback could be a boon to the newspaper industry. publishers now track every click a reader makes online. the column also suggests -- listen to this -- bezos might be able to accelerate the personalization of news which has been a goal of many publishers. an enormous long tail of products is available at amazon from out-of-print books to highly specialized grocery items. there is an analogy to news if mr. bezos can use technology to make it work. news about my town is fine, but news affecting my neighborhood is better and news affecting my block is best. >> my question, and i keep hearing it over and over again, is somehow there's going to be this synergy between amazon and "the washington post," and that he's going to use people who worked at amazon to create these through technologies. >> i don't think that's going to be the case. it's going to be completely separated. >> it's going to be completely separated, and that's what i don't unde
CNBC
Aug 9, 2013 2:00pm EDT
an opportunity to curry favor with political officials here in washington. in fact, on this web page the public relations company working for lenovo that day boasts that five separate political leaders spoke on behalf of lenovo at the event and the firm assisted them in the development of their talking points and messaging for the event. leno lenovo, a chinese computer company, is a firm that can always use good press with the chinese government and has sought to sell its products to the military, the state department and others. >> this year, apple will start making ma cs in america again. >> >> reporter: it's not just foreign companies. apple ceo tim cook scored a coveted seat at president obama's state of the union speech after his company announced it would invest $100 million to bring manufacturing jobs back to the united states. >> apel then south successfully the holy grail of tax avoidance. >> that's the kind of intangible washington goodwill that can come in handy for a company. >> so help me god. >> reporter: especially when it comes under scrutiny on capitol hill for its t
CNBC
Aug 5, 2013 6:00pm EDT
worked out for them. how about too. banks before the final crisis or the reform in washington produced in response to the crisis. or and this is something that soured a whole generation of people in the stock market, too many tech stocks going to the dot com bust. the goal of diversification is to spread your money across unrelated stocks. so when something happens that makes one good down hard wbt rest remain relatively unscathed. can you even go higher? that's the view of the diversification, and it is mandatory. but you know what? if you're going to prepare for anything, it is not enough to make sure your stocks don't overlap. you want all kind of markets. so tonight i explain the new diversification. how to make sure you own something that is an increasingly chaotic, difficult and unforgiving investing environment. where diversified by sector loan is not enough. sure we have benign moments but at any time we know it is a big up, small down, we end up kicked to the curb as everyone knows. and we wish we are diversified as a hedge. against our own complacency and the fed loose loses
CNBC
Aug 27, 2013 4:00pm EDT
washington. of course, over the debt ceiling, as treasury secretary jack lew, should be very concerned. >>> and with millions of college kids headed back to school this week, a panel of pros with savvy ideas how to pay the sky-high tuition bills. don't miss the second installment of our week-long series "school days: the changing face of college." >>> you're watching cnbc, first in business worldwide. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: scottrade- proud to be ranked "best overall client experience." >>> the situation in syria is taking its toll. look at the numbers, oil surging nearly 3% here in the united on concern, the u.s. may be inches closer to a potential military strike on syria, perhaps as early as thursday. kelly? >> bill, peter schiff is saying this is bad news for an already sluggish u.s. economy while david haile of davi
CNBC
Aug 21, 2013 4:00pm EDT
excess of regulation coming out of washington is a dampener on all industrial and economic activity. the amount of time that -- >> i don't think so. >> huh? i beg your pardon? >> i don't think so. i think what's slowing the economy will be interest rates going high enough, that will slow the economy. i don't think -- the average american doesn't care about regulations. they carry what's in their wallet from one month to the next. >> the guy running the corporation -- >> he's not going to get a job if the employers are spending their time dealing with regulations -- >> we're not creating jobs. we're creating 192,000 jobs a month. it's not job growth. it's about 10,000 more a month. [ overlapping speakers ] >> oh, my god. >> -- the thing i've heard today is that the fed is doing a fakeout on all of this. >> all right. thank you, gentlemen. we appreciate it. over to jon fortt. >> reporter: maria, here's something everybody can agree on, and they are the details of the leadership changes at hp. bill veckti, chief operating officer, until now, takes over the enterprise group, and that in
CNBC
Aug 26, 2013 6:00pm EDT
hurting as we hear. if washington's about to come back and become another hot bed of gloom and partisan infighting starting september, who would want to sell the dollar stores? you want to buy them. netflix has taken up residence on the new high list. growing subscriber list and it is a cold stock. i wanted apple and microsoft to buy netflix. since then it's tripled. you make that same argument if it trades at $382. it's overpaid. best buy, that won't quit. some of the propellant comes from the 49% decline it underwent last year. second worst performer in the s&p 500. at this point the 200% rally at the bottom falls at the feet of the hard goods renaissance in this country as individuals seem to have abandoned apparel for hardware. harley davidson sitting on the 52-week high list for another reason. i can't see gatsby riding a harley. it is a terrific status symbol. dow chemical has gotten on the new high list by virtue of its cheap feed stock. it uses natural gas and nat gas liquids to make plastic. wynn resorts finds itself on the list. wynn is the casino gambling destination
CNBC
Aug 28, 2013 9:00am EDT
example, and we will see if they get anywhere near the $6 billion, and this is washington mutual and bear stearns that created many of the securities of course bought under duress by in some ways by jpmorgan, but, hey, if the lawyers didn't figure out a which to get them insulated from the future litigation as a result of the mortgage insecurities, too bad. >> you are reaching ba and they are at the tail end and none of these are new. that is important, none of these are new. the company has been telling people, look out, a stage that there were going to be more shoes to fall, and the shoes to fall now, and it is like the saks fifth avenue shoe floor and how many can fall? e m emelda marcos for sure. >> and well, i have some consumer practices, and the energy markets and the london whale -- you have got -- you know, foreign corrupt practices stuff, and who knowsk because that sounds ridiculous with the hiring thing, one from theless, it is going on. is it jamie dimon, and is somebody very angry with him? >> well, when you speak to the bank offline, they say it is their time. their time. i
CNBC
Aug 9, 2013 9:00am EDT
"washington post." guys, good morning to both of you. >> good morning. >> markets leaning red this morning after avoiding the first four-day losing streak of the year. we have at least six ipos on the docket. may be seven. we'll find out more in a few minutes. watch bonds today. investors pulled $4 billion from treasury funds in the weekended wednesday. you're going to hear more great rotation talk today. road map begins with blackberry open to the idea of going private. >>> also, priceline beating expectations and the shares approaching new highs, not seen since the dotcom era. >>> it's shark week on wall street as our our guest likes to say. >>> hedge funder bill ackman pushes jcpenney to push up its search for a ceo. >>> published reports say the smartphone maker is warming up to the possibility of going private. the company's board are said to be increasingly coming around to the idea. no deal is imminent and blackberry has apparently not launched any kind of sale process. interesting though, guys, reuters is saying they're having discussions about collaboration with silver lak
CNBC
Aug 28, 2013 7:00pm EDT
, many things to richard engel. let's head back to the washington for the very latest military plans. for that we're joined by "wall street journal" national security reporter dion nissbaum. i don't know if you heard richard engel's reports, now all of a sudden the syrian officials want the u.n. inspectors to stay forever. how should we all interpret this? >> i think that the administration has to factor in what happens with the u.n. inspectors. the administration is ready to go. the pentagon has the war ships in place with cruise missiles, which is expected to be the ships used for the limited strikes that they're talking about now, but they are going to be looking at how long the inspectors are going to stay there. they're supposed to say through sunday, as you said. president obama is supposed to go off to the g-20 summit on tuesday in russia. russia is obviously a key playe. tomorrow we could see some intelligence from the administration that lays out part of the case. so i think it will still be a few days before we see any strikes. >> is there any doubt in your mind or the mind
CNBC
Aug 30, 2013 5:00pm EDT
. for the latest let's get to john harwood in washington. >> mellissa. you are right, we saw an acceleration of the move towards a strike from two different public statements today. first was secretary of state john kerry who said the united states has clear evidence that the assad rejust a moment was behind the use of chemical weapons that killed 1,400 people including 400. the only question is when is the u.s. going to act? >> this is evidence. these are facts. so the primary question is really no longer what do we know? the question is what do we collectively, what do we in the world going to do about it? >> reporter: and secondly you had the president of the united states in ophoto op with battlic leaders make the case to a skeptical american public this would be limited in duration that it would not be a repeat of the situation that we saw in iraq some ten years ago. here's the president. >> without considering any open-ended commitment without considering any boots on the ground approach what we will do is consider options that meet the narrow concern around chemical weapo
CNBC
Aug 14, 2013 6:00am EDT
june. john harwood joins us this morning from washington with a little bit more on this. maybe some other thoughts. what does this mean? nothing? zero? >> yeah, because we knew that cory booker was going to win this primary. we know he's going to win the general election. he's going to win it so easily, that chris christie didn't want to be on the same ballot with cory booker when chris christie himself is running for re-election. he will also win. but there is no mystery about this. this is a state that is very democratic. you would have to have some sort of republican star like chris christie himself to challenge somebody like booker. and so this is a seat the democrats are going to get back. and then we're going to have a fight over, you know, a half dozen or few more seats to see whether republicans can pick up the six they need to win a majority in the senate. >> another washington question for you, the president apparently next week after his vacation, i don't know if he's going on -- he's on vacation, i don't know if he's going back to vacation later, but apparently he's goin
CNBC
Aug 7, 2013 6:00am EDT
, this week, jeff bezos, someone you know very well, his acquisition of "the washington post," what do you think he's going to try to do with that? >> you know, i don't know. i think that jeff has been clearly -- he's got to be one of the best people in the world at just strategy, vision and sticking with things for the long term, so, you know, my guess is jeff has a very big vision for that asset. i was very happy to see him buy that asset and most importantly, i think for the graham family who i'm very close with, i think it's a great way that the grahams from a leadership position, looked at jeff and they partnered together for what i think will be the next evolution of the "washington post." but if you think about content being king and how important brands are, if you look at the "boston globe," "the washington post" and our acquisition of "the huffington post" you see the value of those type of assets in the world for people and once we get through this disruptive period those brands are really going to stand out. "the huffington post" acquisition for us has turned into a global
CNBC
Aug 22, 2013 6:00am EDT
. you had stats in washington. you had hadn't been to washington for a number of years. tell us what your insights were. >> it does trouble me there is a lot of lobbying going on, money is playing a much greater role in washington. i was in washington 25 years ago t. role of lobbyists and the role of money and compluns of money was considerably less then. it's in part because the government has gotten so much bicker. in part because lobbyists and government really have very specific goals and they influence the way laws are created. it's a large measure because various interest groups, sometimes for legitimate reasons, sometimes not, want to get their particular point in the law. so if they become more complicated. it's a self reenforcing front. >> if we had less government, we would have necessary e less lobbyists. >> i think we need simpler laws. >> this is physics. if we had less governments. >> we want the government to do more government protection. we want more regulation. >> you agreed with me during the break. >> i agreed the laws have gotten much more complicated. the troubl
CNBC
Aug 6, 2013 9:00am EDT
of media, washington post selling the newspaper publishing businesses including amazon to jeff bezos, and julia boorstin has more on that blockbuster deal. >> this news took everyone including editors and writer at the post by surprise. the washington post's company whose name will change saw the stock rise with caplan tech being sold and now what the billionaire icon plans to do with the newspaper. jeff bezos stressed what a newspaper plays in a free society, and he says that the newspaper's duty remain s s to readers and not the owner. the charting of the map ahead is not going to be easy, and there is a need to invent, which means we will need to experiment. and after knowing each other for a decade, this came together in the conference last month. >> we met at a conference fa face-to-face twice. the second week in july. we spent an hour together, and he asked for time to study the numbers, and then we spent another two hour s together, an at the end he said he wanted to go ahead. >>> that is hardly the first billionaire to buy into publish i ing. the red sox owner john henr
CNBC
Aug 26, 2013 6:00am EDT
be awesome together. >>> how do you say this -- washington news. lawmakers debating what to do about this awful situation in syria. john harwood joins us -- i'm trying to figure out, john, so you've got chemical weapons. you've got gas. where does it get you to use it? i don't -- that's the thing that's so puzzling. i don't know what this did for, allegedly we're now saying that the rebels probably didn't have the capacity to do it this way, and it was obviously done by someone. so we're -- i think we've known all along it was probably assad, but what was the point? i don't get it. it turns the entire world against you. >> reporter: well, on the one hand, you can strike terror in the hearts of the people you're fighting. and on the other hand, if they thought, in fact, that the world was not going to respond, it would have sent a message that the regime could do whatever it wants. but what we've seen as the situation has evolved over the last few days is that leading powers in the west including the united states have decided that they cannot ignore this. that's why we've got t
CNBC
Aug 15, 2013 6:00am EDT
miller, ombc adviser and columnist for the washington post. it's great to have you to help us make sense of this. the question i have, maybe it's just such a myoptic view of the united states, what is the president supposed to do with all this? >> it's a question, because we mid-wived the coup they had. we were basically in the ticking to pieces you saw at the time the military took over to restore democracy, we were involved. we helped usher in the change. we keen of legitimized it by not calling it a coup so military aid could continue to flow. we bankrupted the military billions of dollars. >> is it kerry or mccain? i have seen some. >> mccain may have. i don't think perry has. official policy can't be it's a coup or we have to cut off aid. so our hands aren't really clean in this. now we got this terrible mess. i'm not saying it's easy. be you the idea, you know, in retrospect, could we have been patient and let the brotherhood folded out two years from now? >> that's the history. what do we do now? do we have a role? if we do, what is it supposed to be? >> i think we have no credibi
CNBC
Aug 19, 2013 6:00pm EDT
then there's a disappointing quarter. i can't recommend it. let's go to pat in washington. pat? >> caller: yes. >> go ahead, pat. >> caller: hi. >> hi. >> caller: thanks, jim, for taking my call. >> my pleasure. >> caller: i live in a little town in eastern washington on the snake river bordering idaho. we are the gateway to health canyon. and my question to you is you've always said to not have too much in one stock and i find myself having 25% of my portfolio is in costco. >> that's a tough one, pat. >> caller: i love the store, it's six miles from my house and the stock i bought very, very low and it's done very, very well. >> i know it's tough to pay the taxes. by the way, i've got to tell you i think i would have to -- 20% even as my charitable trust has a big position in costco looking to buy it at $110. let's go to bob in florida. bob? >> caller: hey, nokia, nokia. >> i'm not going to disagree with that. i've been recommending it like three and change, everyone thinks i'm a total bozo, but i think the stock can inch up to five without a problem and then we're going to ca
CNBC
Aug 30, 2013 1:00pm EDT
president still considering that. we have john horwood with us right now in washington. he's been listening to the speech, and my partner simon hobbs is down on the floor of the new york stock exchange. john, as i mentioned, graphic details, the secretary of state laying out for us just a short while ago, but it seems as though the administration is in a very difficult position with a no vote for action in britain. the arab logue, although condemning syria's actions, not backing any u.s. intervention in syria, and the president himself may have gotten himself into a difficult situation by using the red line phrase so early on in this conflict. >> well, that's right, but, look, john kerry in that speech did everything but announce the timing and the targets of u.s. military action. it's very clear from what he said that that is the path that the u.s. is now on. he talked about on your point about the vote in the house of commons in london, he said the united states makes its own decisions on its own timetables based on what's in our national interests. he also said and referred to the decisi
CNBC
Aug 16, 2013 3:00pm EDT
agencies in washington today are totally impacted by the political environment there. they're simply responding to the politics that are going on in washington. they know what the right answer is. but they don't have enough fortitude to tell the truth and say, hey, these are wrong. >> dick, we always appreciate your -- >> thank you. >> -- your candor. thanks, sir. >> thank you. >> see you soon. >>> all right. heading toward the close now. about 35 minutes left on the expiration day. the dow trying to get back to positive territory, but down 11 points right now. >>> bill, the market may be down for the week, but have you looked at apple lately? the stock is up 10% since monday. what a good week it's had. up next, we'll hear from somebody who says the stock is still cheap. >>> and it's certainly tgif as far as the market is concerned. coming up, we'll discuss whether the pullback is a repeat of what happened in june when we quickly shot back to new all-time highs, or if this is actually the start of the bigger and deeper correction so many have been predicting. more of summer on the st
CNBC
Aug 16, 2013 2:00pm EDT
very closely this reason for many reasons. >> if you live in the washington, d.c. area because american has great hubs at reagan national, whether or not they emerge with u.s. airways or not, raymond james says it could be an interesting scenario developing. if the merger actually doesn't happen, maybe it becomes a takeover target for the likes of american, but if it does happen jetblue get the long sought after spots at a hub like reagan international. >> an agreement with british airways as well. >> a lot of agreements in place. jetblue very good on the east coast. could be a nice piece for people looking to expand. >> dick's sporting goods being removed from jr. pm's focus list. its third-quarter earnings reported next tuesday. >> this is interesting for dick's. talking about retailers, specialty ones, cat lifts throughout the year, back-to-school, the christmas shopping season and if you have an item like dick's and they can't meet their results or people turn negative that says a lot about the consumer. very discretionary spending. you don't go out there and buy food, yes,
CNBC
Aug 16, 2013 4:00pm EDT
harwood has the lowdown on the showdown coming up over the debt ceiling. it would be washington consumption at its worst. he'll also get you up to speed on larry summers' chances of becoming the next chairman of the federal reserve. keep it right here. we're back in two minutes' too many. ♪ like a dog without a bone 5-20 and the better i am at them, the more i enjoy them. tdd#: 1-800-345-2550 so i'm always looking to take them up a notch or two. tdd#: 1-800-345-2550 and schwab really helps me step up my trading. tdd#: 1-800-345-2550 they've now put their most powerful platform, tdd#: 1-800-345-2550 streetsmart edge, in the cloud. tdd#: 1-800-345-2550 so i can use it on the web, where i trade from tdd#: 1-800-345-2550 most of the time. tdd#: 1-800-345-2550 which means i get schwab's most advanced tools tdd#: 1-800-345-2550 on whatever computer i'm on. tdd#: 1-800-345-2550 it's really taken my trading to the next level. tdd#: 1-800-345-2550 i've also got a dedicated team of schwab trading specialists. tdd#: 1-800-345-2550 they helped me set up my platform the way i wanted, tdd#:
CNBC
Aug 27, 2013 12:00am EDT
in washington to deal with this, so you know it's a problem. >> that's ahead when 60 minutes on cnbc returns. [ticking] [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. with 7 antioxidants to support cell health. one a day men's 50+. >> when it comes to the issue of privacy on the internet, facebook is sometimes distrusted even by its most ardent users. facebook ceo mark zuckerberg told us that they don't sell their users' information to advertisers, but do people on facebook really have control over their personal information? >> am i a fuddy-duddy... >> yes. >> by... [both laugh] am i a fuddy-duddy by asking all these privacy questions? >> no. >> kara swisher is the editor of all things digital, a website about high tech in silicon valley. you know, i wonder if facebook can exist if it doesn't invade privacy. >> that's right. that's exactly right. >> so it needs to invade privacy. the issue is transparency, isn't it? >> kind of, yes. >> how up fro
CNBC
Aug 26, 2013 3:00pm EDT
have ammon javier javers. >> hi, bill. secretary of state speaking here in washington. forceful words. here's a little bit of the secretary of state explaining what the stakes are here. >> our sense of basic humanity is offended not only by this cowardly crime but also by the cynical attempt to cover it up. at every turn, the syrian regime has failed to cooperate with the u.n. investigation. using it only to stall and to stymie the important effort to bring to light what happened in damascus in the dead of night. >> a couple of key points here. the secretary of state saying that although investigators are still getting access to the scene, some of those u.n. investigators in particular have been actually fired upon as they try to get there to see if that i remember determine which chemical weapons may have been used here, the secretary of state saying chemical weapons were used in syria. he also said that the president of the united states stands ready to make an informed decision about what to do in response to that. he said there must be accountability. the secretary of state
CNBC
Aug 27, 2013 9:00am EDT
are on the lookout for some sort of military strike on syria after word from washington that there is evidence that chemical w weapons were used on civilians. this is impacting not only oil, but the metals markets as well. we are watching the gold and the mome momentum continues. we broke out above the 1,400 mark and a key psychological level and the traders are saying that the next stop is easily 1425 and gold is up 20% as it hit the multi-year low on june 28th at 1179. quick check on the oil, and we are watching wti prices and up nearly $3 which is the highest levels we have seen wti in nearly five weeks and the best performing commodity on the day. watching brent prices as well and the concerns for the commodities is that a strike on syria could potentially disrupt supply in the middle east, and the u.s. military is ready to go if president obama is ready to take action and of course, we are watching the prices carefully, carl. back to you. >> thank you, jackie for that. >>> a new study finds potential link between earthquakes and fracki fracking. there is a study by the "earth
CNBC
Aug 21, 2013 5:00pm EDT
with their money. what's going on in washington that's going to change that. >> i think they almost have to. you look at the age of capital stock at this point, it's old. we're going to see companies start to -- i don't know if they hire back but we're still in a fairly soft labor market but i think they start spending on tech or ways to improve efficiency without maybe hiring that marginal employee. again, the consumer looks a little bit strapped because the cost of hiring another full time worker is a lot higher today given that mandatory health care costs and all the wrappings around hiring another u.s. worker. i think it gets a little bit harder for consumer stocks to continue to hit new highs at this point. >> thank you very much for joining us today. let's get a quick market flash with josh lipton. what are you watching? >> mandy, two names on our radar. first up, l brands its portfolio consists of victoria's secret, bath and body works. revenues in line but q 3 guidance comes up light. haines, beats on the bottom and the top, sales rose 18 percent in the u.s. more than double
CNBC
Aug 2, 2013 6:00am EDT
. >> washington. >> as the market was moving yesterday, what struck me you watch the ten year yield push above 2.7%, and the stock market continued to climb is this an indication that good news is good news because while the gdp numbers were weak, all the economic numbers we got yesterday were stronger than expected. >> i think that's true. in managing the strategies, we're looking at three things. just going back to the earlier -- what we're seeing is a macro climate that is improving. i would push back a blilittle b over the course of the second quarter, it is clear we saw a slowdown in shipments but started to see a pickup in new orders. i think we're poised for a better second half. i think the pickup in the ism while higher than certainly i think everybody expected in including myself, it does suggest that we're starting to get some reacceleration as we go to the second half. i think that's what the market wants to see and it is getting it. it is kind of a good news is good news and bad news is good news and that the fed may be a little tentative here in its decision to taper. i thi
CNBC
Aug 30, 2013 6:00pm EDT
have been pretty resilient. meanwhile another conflict in washington gearing up. the fight over debt ceiling,
CNBC
Aug 19, 2013 5:00pm EDT
issues that were settled i believe last month on a civil level with firk in washington over jpmorgan's alleged manipulation in the electricity market in a couple of regions, one dealing with california and the other with the midwest. in the settlement order which came to a settlement of $410 million which was the largest enforcement action for them they highlighted about a dozen strategies in which they allege that jpmorgan sought to manipulate markets and get preferable prices for their entities. more details are yet to come. >> kate kelly, thank you for bringing us both of those stories. we appreciate it. still ahead, will the board room brawl at jcpenney impact the retailer's bottom line. we'll head to the options pit next. ters to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪ ♪ [ agent smith ] i'v
CNBC
Aug 21, 2013 2:00pm EDT
down. last month has been bad and we are so worried about washington and ma macy's walmart and targe are america. >> we love it when you do that. none the less still over it's record high. the last four summers we have had a swoon. this is meger. up next battleground group on. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> it is riddle time, folks. can you name this stock? it is up for than 100% since january. yes, many of you have already correctly guessed. it is groupon. a big comeback this year. can it be sustained? julia boorstin has been digging in. >> reporter: mandy, ever since the ceo mason was ousted, wall street has gained confidence that the company can transi
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